Nifty opened flat and slowly nifty gained strength and it has moved to high of 6323 and closed at 6320 based on government data showed that inflation based on the wholesale price index (WPI) eased to five-month low at 6.16% in December 2013. Easing inflation provided legroom for the central bank to cut interest rates in its next policy meet in order to bolster growth.. FII's were heavy buyers to the tune of 700 Crores for first time this year.
Shorterm trend
Nifty closed above 6250 for second and this time it made a solid move to 6320 and now next major resistance is 6360 and if it can cross this we are going to see all time hight in Nifty. We could see profit booking at 6360 before moving towards all time high. We have a history of trap at 6350 levels of bull trap before we have seen corrections. With results season gaining momentum we could see the move happening either way but my preference is on the up side. What we are seeing is Banks and Infra coming back to favor of investors.
Intraday Trend
We are going to see positive opening and Nifty staying above 6345 for 15 mins could see 6360 and 6375 and below 6330 for 15 mins could see 6315 and 6300. We have many crucial results today. TCS,Axis Bank and Bajaj Auto will present their number. HCLTech has come up with good results which will please street.
Top picks for the day
My top pics for the day are Adani Ent, PNB, BankBaroda, Cairn,Yes Bank, RelInfra and Maruti. For Buy/Sell and correct levels contact vijaykumarrao.invest@gmail.com.
Pivot levels for key stocks
Shorterm trend
Nifty closed above 6250 for second and this time it made a solid move to 6320 and now next major resistance is 6360 and if it can cross this we are going to see all time hight in Nifty. We could see profit booking at 6360 before moving towards all time high. We have a history of trap at 6350 levels of bull trap before we have seen corrections. With results season gaining momentum we could see the move happening either way but my preference is on the up side. What we are seeing is Banks and Infra coming back to favor of investors.
Intraday Trend
We are going to see positive opening and Nifty staying above 6345 for 15 mins could see 6360 and 6375 and below 6330 for 15 mins could see 6315 and 6300. We have many crucial results today. TCS,Axis Bank and Bajaj Auto will present their number. HCLTech has come up with good results which will please street.
Top picks for the day
My top pics for the day are Adani Ent, PNB, BankBaroda, Cairn,Yes Bank, RelInfra and Maruti. For Buy/Sell and correct levels contact vijaykumarrao.invest@gmail.com.
Pivot levels for key stocks
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